Post Utme Summit University 2021 Accounting Question 39

Practice objective / multiple choice question 39 from the 2021 Post Utme Summit University Accounting examination.

Post Utme Summit University 2021 Accounting Objective / Multiple Choice
Question 39 POST_UTME_SUMMIT_UNIVERSITY • 2021 • ACCOUNTING • objective

A company has the following transactions: Purchased office supplies for ₦10,000, Sold goods for ₦50,000, and Purchased equipment for ₦20,000. Prepare a journal entry for the transactions.

Answer Options

Correct Answer A. Debit Office Supplies ₦10,000, Credit Cash ₦10,000
B. Debit Office Supplies ₦10,000, Credit Equipment ₦10,000
C. Debit Office Supplies ₦10,000, Credit Cash ₦10,000
D. Debit Office Supplies ₦10,000, Credit Equipment ₦10,000
Correct Answer
A
Correct Option:
Debit Office Supplies ₦10,000, Credit Cash ₦10,000

About This Question

This is Post Utme Summit University 2021 Accounting Question 39. It is one of the objective questions from the 2021 Post Utme Summit University Accounting examination.

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